1. Mahindra & Mahindra Financial Services:

This vehicle financier surged 11% over the past week after reporting Q1FY27 results that beat Forecaster estimates by a wide margin. The performance was particularly notable as the first quarter is typically weak and this time, dominated by news of the US-Iran war and a weak monsoon. Net profit jumped 70% YoY as credit costs declined, while assets under management (AUM) grew 13% to Rs 1.4 lakh crore. 

MD & CEO Raul Rebello expects AUM to compound at 16-18% annually over the next five years, supported by expansion in the core vehicle finance franchise and scaling of newer lending businesses.

Vehicle finance accounts for more than 80% of the loan book, spanning passenger and commercial vehicles, tractors, three-wheelers and pre-owned vehicles. The remaining 17% comprises newer businesses such as personal loans, SME lending and mortgages, where disbursements rose 79% YoY. Rebello said these businesses have started to reflect investments made over the past few years and should reduce the seasonality of the overall portfolio.

Net interest margin expanded to 7.2%, while improving asset quality helped reduce credit costs and lift profitability. Rebello said the company has benefited from pricing actions, product mix optimisation and a lower cost of funds following last year's rights issue. He added that the company does not require fresh equity capital over the next six to eight quarters.

Rebello said the Udaan platform now processes most disbursements, while AI-driven customer acquisition has lowered acquisition costs by about 30%. AI-enabled workflows now cover around half of credit processing operations, improving productivity as the loan book expands.

ICICI Securities reiterated its 'Buy' rating and raised its target price to Rs 415, saying structural improvements in the business model have strengthened return ratios. The brokerage expects continued investments in distribution, digital capabilities and newer lending segments to support management's medium-term AUM guidance.

2. Zydus Lifesciences:

This pharmaceutical company fell 1.5% on Wednesday after US President Donald Trump said generic drugs imported into the US would face a 100% tariff from August 2028 and a 200% tariff the following year. Currently, generic medicines imported into the US are exempt from tariffs.

According to the Global Trade Research Initiative (GTRI), the US accounted for 38% of India's pharmaceutical exports in 2025. North America formulations contributed 44% of Zydus Lifesciences' FY26 revenue, making it the company's largest business segment.

Even before the proposed tariffs, Indian drugmakers with significant exposure to the US generics market were facing pressure on profitability. Goldman Sachs said companies are no longer benefiting from high-margin generic Revlimid sales and are facing an unfavourable product mix, along with higher input and freight costs. Forecaster estimates Q1FY27 net profit to fall 28.8% YoY despite a 14% growth in revenue.

Zydus has been expanding beyond traditional generic medicines in the US. It acquired Assertio Holdings for $166.4 million (around Rs 1,590 crore), giving it a commercial platform in specialty oncology (cancer treatment). The deal also brings Rolvedon, a long-acting treatment that helps reduce infection risk in cancer patients undergoing chemotherapy. The drug generated net sales of $68.2 million in 2025, up 13.5% from a year earlier.

The company's North America formulations business grew 6% in FY26. It has also expanded its rare disease business in the US, marketing three rare disease medicines through its US specialty unit, Sentynl Therapeutics. Director Ganesh Nayak said, "Our North America business continued to grow despite increased competition in some generic medicines, helped by new product launches, higher volumes in the base business and demand for specialty and rare disease products."

Deven Choksey maintained its 'Accumulate' rating on the stock with a higher target price of Rs 1,201. The brokerage believes Zydus' growing specialty medicines portfolio, along with the Assertio acquisition, positions the company better for long-term growth.

3. Havells India:

This electrical equipment manufacturer rose 3.8% over three trading sessions after announcing Q1FY27 results on July 17. Its revenue increased 19.5% YoY, led by strong growth in the cables and wires segment. Its newly separated renewables business also more than tripled its revenue, supported by robust solar-product sales. However, higher advertising and raw material costs dragged net profits down by 16.6%.

The company front-loaded its advertising spending in Q1 to promote seasonal products such as Lloyd air conditioners. CMD Anil Rai Gupta said, “While this front-loading of investments impacted the quarter profitability, these expenses will decline during the rest of the year.” 

Higher copper, aluminium and other input costs also weighed on profitability. To offset these costs, Havells raised prices by an average of 7–8% across categories. As the hikes were implemented gradually, their full benefit will be reflected only in the coming quarters.

Lloyd’s revenue jumped 15%, even though air-conditioner sales volumes grew by only single digits. This shows that growth was led by price rather than volume. Havells is now supplying Lloyd products based on actual retail sales instead of pushing excess stock to dealers. This move might slow short-term sales, but it cuts down unsold inventory.

Havells has increased its FY27 capital expenditure plan from Rs 1,200 crore to Rs 1,400 crore. Gupta said, “The bigger part of this capex is going into the cables and wires business, almost Rs 800 crore. About Rs 200 crore is going into the new R&D centre.” The company also plans to expand its footprint in rooftop solar systems, solar pumps, battery storage, and electric-vehicle chargers.

Post results, Goldman Sachs kept its ‘Buy’ rating on Havells but trimmed its target price from Rs 1,510 to Rs 1,400. The brokerage expects profits to bounce back once price hikes kick in, advertising spending drops, and dealers clear out excess inventory. It also sees Havells’ plan to boost annual cable production at its Karnataka plant by 60% before December 2027 as a major growth driver. 

4. IndiaMART InterMESH:

The stock of this internet and catalogue retail company declined 5% on July 22 after its June-quarter results, as global brokerages remained cautious over the continued decline in paid suppliers despite the company reporting double-digit growth in profit and revenue. 

Jefferies retained its 'Underperform' rating on the stock with a target price of Rs 1,650. The brokerage said the Q1 margin expansion was largely driven by lower customer acquisition costs, which it expects to normalise. It also warned that weak subscriber additions could weigh on the platform's network effects and cut its FY28–29 EPS estimates by 1.5-4%. Meanwhile, Nomura said meaningful growth in the paid subscriber base will be key to unlocking further upside in the stock. 

IndiaMART's Q1FY27 net profit jumped 12.2% YoY to Rs 172.2 crore, driven by gains in its treasury portfolio. Revenue matched that exact pace, rising 12.2% to Rs 521.1 crore, fueled by high customer retention and deeper spending from premium Gold- and Platinum-tier members. Beneath the surface, however, the platform hit an operational bump: paying suppliers dropped by roughly 1.9k QoQ in Q1, dragged down by sluggish new sign-ups and a high ~7% monthly churn among basic Silver-tier members. The stock features on a screener of companies with an increasing trend in their Non-Core income.

Management explained that the drop in overall buyer inquiries was intentional, stemming from stricter OTP verification designed to wipe out bots and low-quality leads. While active buyers dipped ~5%, leadership considers this a smart trade-off to focus on serious, high-value buyers over superficial user counts. Looking ahead, management plans to push new license growth to 15-20% over the next 1-2 years and guides for an EBITDA margin in the range of 30-35% in the long run.

Taking a sunnier view, Motilal Oswal reaffirmed its ‘Buy’ rating, viewing IndiaMART as a prime play on the digital transformation of India's MSME ecosystem. The brokerage highlighted that even with soft inquiry volumes, revenue momentum remains intact thanks to premium tiering and stronger pricing power rather than sheer supplier growth. Reassuring investors, it kept its collections growth target steady at ~8–9% across FY27–28.

5. HFCL: 

This telecom stock surged 4.8% on July 21 after Deven Choksey retained a ‘Buy’ rating with a target price of Rs 362. The brokerage expects HFCL to deliver sustainable growth over the medium term. A massive order book, rising exposure to global data centres, and strong long-term demand drive this optimism. Analysts project annual net profit to double with revenue growth of 35% through FY28.

Record Q1FY27 results, released on July 22, backed this bullish view. Revenue soared 120% YoY, driven by the exports and telecom products segments. The company reported a net profit of Rs 246 crore from a net loss a year ago, supported by better product realisations and economies of scale. The company reduced its share of the low-margin engineering & construction projects over the past year, helping EBITDA margin grow 18 percentage points to 22.9%.

The export business now generates about 56% of total revenue. Surging demand for optical fibre, data centre connectivity, and defence equipment fueled this growth. Looking ahead, HFCL aims to scale its aerospace and defence revenue to Rs 3,000 crore by FY29, up sharply from just Rs 77 crore in FY26.

Management highlighted a shift in global infrastructure spending. AI, digital networks, and defence modernisation are converging. Optical connectivity for AI data centres presents the next major growth opportunity. To capture this demand, HFCL set aside Rs 640 crore for capital expenditure. This includes a board-approved Rs 215 crore investment to build a new factory for data centre connectivity products, capable of producing 2.7 lakh assemblies.

Promoter and MD Mahendra Nahata outlined a strong FY27 outlook. “We raise our aspiration for a revenue growth of 40% from 20%,” he said. Strong order inflows, expanding global opportunities, and better execution drive this confidence. The company posted an EBITDA margin of 23.3%, beating its full-year target of 20%, which management called sustainable.

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